Professional Updates

A Complete Guide on Limited Liabilities Partnership A  Limited Liability Partnership  means a business where the minimum two members are required and there is no limit on the maximum number of members. The liability of the members of an LLP is limited. LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its name. The LLP is a separate legal entity, liable to the full extent of its assets but liability of the partners is limited to their agreed contribution to the LLP   This growing structure has been emerging as a popular form of business organization for many licensed professionals like lawyers, doctors, Chartered accountants etc. This concept of business has been accepted in countries like U.S.A., U.K., Australia, and Germany. In the United Ki...

 

Rates of TDS applicable for Financial Year 2021- 22 or Assessment Year 2022- 23 Section Nature of Payment Limit Individual Company No Pan 192 Salaries  (R+NR) - Slab Basis - 30% 192A Premature withdrawal from RPF  (R+NR) 50,000 10% - 20% 193 Interest on Securities     2,500 10% 10% 20% 193 Interest on 7.75% GOI Savings (Taxable) Bonds 2018 10,000 10% 10% 20% 193 Interest on Debenture 5,000 10% 10% 20% 194 Dividends other than referred in Sec.115-O 5,000 10% 10% 20% 194A  (Note 1) Interest other than interest on securities – Banks ...